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A judge has ordered the legal teams behind two settled Surfstitch class actions to have another crack at the opt out notice, saying the current version is "just too confusing" for group members.
Quintis founder Frank Wilson has won his bid for unredacted transcripts of ASIC examinations with six former directors of the failed sandalwood company.
The Australian Prudential Regulation Authority will not challenge a Federal Court ruling that dismissed its case against fund manager IOOF as “unpersuasive”, “fundamentally inadequate” and “tenuous in the extreme”.
Online fashion retailer Surfstitch has reached an in-principle settlement in two shareholder class actions, about nine months after an initial agreement to resolve the dispute derailed.
Ernst & Young, which is facing a lawsuit brought by the receiver of a fund overseen by failed financial services firm LM Investment Management, has lost its bid to file a claim for damages against LMIM, with a judge saying the auditor's case was "flawed" and "counterintuitive".
The prudential regulator is standing by its decision to bring proceedings against IOOF for alleged breaches of superannuation duties, despite criticism that such a "highly litigious regulatory environment" is placing immense pressure on financial services executives.
APRA’s purely documentary case against troubled fund manager IOOF has been dismissed by the Federal Court as “unpersuasive”, “fundamentally inadequate” and “tenuous in the extreme”, in another major blow to financial services regulators pursuing action in the wake of the banking royal commission.
Five IOOF executives will learn their fate this week when a judge rules on a disqualification bid by the prudential regulator, the first judgment to be delivered by a court in a case filed in the wake of last year's scandal-airing banking royal commission.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
Facebook and Instagram have denied allegations they breached Australia's competition law when they terminated the accounts of a Melbourne-based startup, saying they were entitled to block the company from their platforms.